Chicago, March 30 – GS Finance Corp. priced $196,000 of autocallable contingent coupon equity-linked securities due June 25, 2021 linked to the common stock of Walt Disney Co., according to a 424B2 filing with the Securities and Exchange Commission.
If Walt Disney shares close at or above the coupon trigger price, 50% of the initial share price, on a quarterly determination date, the notes will pay a contingent payment that month at an annualized rate of 11%.
After six months, the notes will be called at par plus the contingent coupon if Walt Disney shares close at or above the initial share price on any quarterly determination date other than the final determination date.
If the final share price is greater than or equal to the 50% trigger buffer price, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying stock: | Walt Disney Co.
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| Amount: | $196,000
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| Maturity: | June 25, 2021
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| Coupon: | 11% per year, payable quarterly if Walt Disney shares close at or above downside threshold level on determination date for that period
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| Price: | Par
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| Payout at maturity: | If final share price is greater than or equal to downside threshold level, par plus final contingent coupon; otherwise, 1% loss for every 1% that final share price is less than initial share price
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| Call: | After six months, at par plus contingent coupon if Walt Disney shares close at or above initial share price on any quarterly determination date other than final determination date
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| Initial share price: | $88.80
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| Coupon trigger/trigger buffer level: | 50% of initial share price
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| Pricing date: | March 18
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| Settlement date: | March 23
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 2.35%
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| Cusip: | 40056YTJ3
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